Q1 2024 EPS Estimates for Liberty Energy Inc. Reduced by Atb Cap Markets (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT - Free Report) - Stock analysts at Atb Cap Markets decreased their Q1 2024 earnings estimates for Liberty Energy in a report released on Sunday, April 7th. Atb Cap Markets analyst W. Syed now forecasts that the company will earn $0.50 per share for the quarter, down from their prior estimate of $0.56. The consensus estimate for Liberty Energy's current full-year earnings is $2.69 per share. Atb Cap Markets also issued estimates for Liberty Energy's Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $2.79 EPS, Q1 2025 earnings at $0.76 EPS, Q4 2025 earnings at $0.78 EPS, Q1 2026 earnings at $0.79 EPS and FY2026 earnings at $3.64 EPS.

Liberty Energy (NYSE:LBRT - Get Free Report) last released its earnings results on Wednesday, January 24th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.03). Liberty Energy had a return on equity of 32.28% and a net margin of 11.72%. The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the company earned $0.82 EPS. Liberty Energy's quarterly revenue was down 12.3% compared to the same quarter last year.

LBRT has been the subject of a number of other research reports. Wells Fargo & Company dropped their target price on shares of Liberty Energy from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Thursday, December 21st. Morgan Stanley upped their target price on shares of Liberty Energy from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. Citigroup dropped their target price on shares of Liberty Energy from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, December 14th. Finally, Piper Sandler upped their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the company an "overweight" rating in a report on Friday, January 26th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.75.

Liberty Energy Price Performance

Shares of Liberty Energy stock traded up $0.29 during trading hours on Wednesday, reaching $22.59. 2,095,322 shares of the company's stock were exchanged, compared to its average volume of 3,000,814. Liberty Energy has a 1 year low of $11.62 and a 1 year high of $23.23. The company has a market capitalization of $3.77 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 1.05 and a beta of 1.85. The business has a fifty day moving average of $20.81 and a two-hundred day moving average of $19.48. The company has a quick ratio of 1.17, a current ratio of 1.49 and a debt-to-equity ratio of 0.15.

Institutional Trading of Liberty Energy

Several hedge funds have recently added to or reduced their stakes in LBRT. EdgeRock Capital LLC acquired a new stake in Liberty Energy in the fourth quarter valued at approximately $27,000. Principal Securities Inc. acquired a new stake in Liberty Energy in the fourth quarter valued at approximately $39,000. Quadrant Capital Group LLC raised its holdings in Liberty Energy by 70.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company's stock valued at $53,000 after acquiring an additional 1,206 shares in the last quarter. Quarry LP raised its holdings in Liberty Energy by 111.0% in the second quarter. Quarry LP now owns 3,965 shares of the company's stock valued at $53,000 after acquiring an additional 2,086 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Liberty Energy by 8,240.8% in the second quarter. Farther Finance Advisors LLC now owns 4,087 shares of the company's stock valued at $55,000 after acquiring an additional 4,038 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.

Insiders Place Their Bets

In other Liberty Energy news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.27, for a total transaction of $405,400.00. Following the completion of the transaction, the chief executive officer now owns 2,830,402 shares of the company's stock, valued at $57,372,248.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Ryan T. Gosney sold 6,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the sale, the chief accounting officer now owns 140,706 shares of the company's stock, valued at $2,884,473. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.27, for a total transaction of $405,400.00. Following the sale, the chief executive officer now directly owns 2,830,402 shares in the company, valued at approximately $57,372,248.54. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock valued at $2,077,491 over the last 90 days. 3.70% of the stock is owned by company insiders.

Liberty Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Tuesday, March 5th. Liberty Energy's dividend payout ratio is currently 8.86%.

Liberty Energy Company Profile

Liberty Energy Inc provides hydraulic services and related technologies to onshore oil and natural gas exploration, and production companies in North America. The company offers hydraulic fracturing services, including complementary services, such as wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods comprising sand mine operations, and technologies; and well site fueling and logistics.